Yocum Company purchased equipment on January 1 at a list price of $ 100,000 , with credit terms 2 / 10 , n / 30 . Payment was made within the discount period and Yocum was given a $ 2,000 cash discount . Yocum paid $ 5,000 sales tax on the equipment , and paid installation charges of $ 1,760 . Prior to installation , Yocum paid $ 4,000 to pour a concrete slab on which to place the equipment . What is the total cost of the new equipment ?
$ 104,760 $ 108,760 $ 110,760 $ 101,000 6- Multiple Choice Question 98
A company purchased factory equipment for $ 350,000 . It is estimated that the equipment will have a $ 35,000 salvage value at the end of its estimated 5-year useful life . If the company uses the double-decliningbalance method of depreciation , the amount of annual depreciation recorded for the second year after purchase would be
$ 84,000 . $ 140,000 . $ 126,000 . $ 60,480 . 7- Multiple Choice Question 175
On a balance sheet , natural resources may be described more specifically as all of the following except